Business Finance Homework Help

Respond to the following in a minimum of 175 words:

The most frequently used measures of central tendency for quantitative data are the mean and the median. The following table shows civil service examination scores from 24 applicants to law enforcement jobs:

83 74 85 79

82 67 78 70

18 93 64 27

93 98 82 78

68 82 83 99

96 62 93 58

Using Excel, find the mean, standard deviation, and 5-number summary of this sample.

• Construct and paste a box plot depicting the 5-number summary.
• Does the dataset have outliers? If so, which one(s)?
• Would you prefer to use the mean or the medianas this dataset’s measure of central tendency? Why?

Reply to at least 2 of your classmates or your faculty member, and/or address any of the following subjects:

1. What is a five number summary and why is it important?
2. What is the Interquartile Range (IQR) and when do we use it?
3. When do we use the median instead of the mean for the measure of central tendency? Explain your answer
4. Define the following two concepts: Standard Deviation and Range.

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Meghan Green

Hello Class,

See attached my Excel doc outlining the mean, standard deviation, and 5-number summary.

The mean of this boxplot is 75.5

The standard deviation is 19.9913

The 5- number summary: Min 18, max 99, median 80.5, q1 67.75, and q3 87.

Wk2 Discussion post Box Plot.xlsx

Yes, the dataset has outliers which are (27 & 18).

Since the shape of the boxplot isn’t symmetric, the circulation of the information is skewed to the left. With this information the median is the most fitting proportion of central tendency.

Carissa Henderson

5/19/21, 9:38 PM

NEW

Carissa Henderson

Week 2 Discussion Board

box plot .docx

After reviewing the box plot, there are two outliers – 18 and 27.

We I would prefer the median to be taken as the measure of central tendency as the mean can get preference towards the minimum or maximum value. Even though, this is not the case with the median. It can also work out with the outliers. As a result, the median for central tendency is the best option.